Accretive Wealth Partners LLC Acquires 12,764 Shares of Wells Fargo & Company $WFC

Key Points

• Accretive Wealth Partners LLC increased its holdings in Wells Fargo & Company by 235.1%, purchasing an additional 12,764 shares and holding a total of 18,194 shares valued at $1.458 million.
• Analysts have raised their price targets for Wells Fargo, with Keefe, Bruyette & Woods increasing it from $85 to $92, while Weiss Ratings upgraded the stock from a "hold" to a "buy."
• Wells Fargo recently announced a quarterly dividend increase to $0.45 per share, reflecting a 2.2% yield and a payout ratio of 29.61%.

Accretive Wealth Partners LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 235.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,194 shares of the financial services provider's stock after purchasing an additional 12,764 shares during the quarter. Accretive Wealth Partners LLC's holdings in Wells Fargo & Company were worth $1,458,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WFC. CBIZ Investment Advisory Services LLC lifted its position in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock worth $27,000 after purchasing an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the second quarter worth $27,000. Motco lifted its position in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after purchasing an additional 326 shares in the last quarter. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the first quarter worth $29,000. Finally, 1248 Management LLC bought a new stake in shares of Wells Fargo & Company in the first quarter worth $31,000. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

WFC has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 15th. Weiss Ratings raised shares of Wells Fargo & Company from a "hold (c)" rating to a "buy (b)" rating in a research report on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Dbs Bank raised shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Finally, Barclays upped their price target on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.57.

Wells Fargo & Company Price Performance

Shares of WFC opened at $83.25 on Monday. The firm has a market capitalization of $266.70 billion, a PE ratio of 13.69, a PEG ratio of 1.15 and a beta of 1.25. The company's 50-day moving average is $81.21 and its 200-day moving average is $77.01. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $87.47. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company's payout ratio is currently 29.61%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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